by Elton Donald, Senior Project Consultant
Developing in Vancouver is a tough gig. But for clients who have homes that can qualify under the Heritage Action Plan, I do believe that there are opportunities for those owners to realize some development in the area of multi-unit conversions on homes deemed to have character merit.
I think there are opportunities for various clients with the infill, in particular.
The infill option produces a larger home than a laneway. It gives you that privacy, it gives you that space. But as opposed to a laneway, that infill home can be sold independently.
It’s how a client can take a home that they’ve been in for maybe a long time, do this development at one price and realize a significant upside. This can then help pay for a renovation on their own home to make their everyday use better for them.
I think that’s a great opportunity for people and it’s there.
It’s not a simple process, mind you. It’s a bit long in the preconstruction, but it can be quite a unique solution for those key specific properties that qualify under this city program.